Chapter 2 Market Research

Chapter 2 Market Research

by Ronald Relativo

Sutori

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When you buy your first car – what color will it be?

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What if you could only have one color, what if there was no choice, what will you do?

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In your opinion, what does the phrase mean?

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Does Product Orientation mean bad especially they focus only on the product or the production processes without taking into account the other people or group (market's needs or wants)? Why?

Multiple Select

If given a chance to demand between these two from your next razor, which one will you choose a pivoting head or virtual guard razor?

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What exactly you've learned about Product Orientation today?

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If you come across the word MARKET ORIENTATION what comes to your mind to easily associate it with?

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What do you think will it bring to the business if they will hear the thoughts of their customer in producing a product?

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What do you think would be the problem/s or issues you will face in Market Orientation?

Multiple Select

So which marketing orientation will you prefer if you will have your own business/company?

• Product Orientation

• Market Orientation

• Mix of both worlds

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What exactly you've learned about Market Orientation today?

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After knowing the companies on their different take with Market Reseach, for you is Market Research really vital? Why?

Multiple Choice

It is the process of anticipating and satisfying customers’ wants in a way that delights the customer profitably, what is this?

• Market Research

• Market

• Marketing

• Market Orientation

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In your opinion, HOW is Market research carried out?

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BUT WHY is Market Research needed?

Multiple Select

What are the 4 reasons suggested by Popular Theory about why market research might be carried out? (pick 4 among the choices)

• Predict Changes

• Dictate the market

• Describe the market

• Explore future reactions

• Explain the market

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So, what do you think about Rob's law tips of success? Your thoughts please.

Multiple Choice

What does it mean when we say "forecast sales?"

• Understand how much consumers will pay for a product

• Identify potential competitors

• Quantify potential consumer demand for a product

• Reduce Risk

Multiple Choice

What does it mean when we say "Identify potential Competitors?"

• Understand consumer's behaviour.

• Calls for company to strategize well.

• Fix product pricing

• Should anticipate to forecast sales

Multiple Choice

What should be the focus of the business when we say "understand how much the consumers will pay for a product?"

• Forecast Sales

• Risk-reduction

• Strategy

• Pricing

Multiple Select

What are the 4Ps of marketing mix? (pick 4 among the options)

• Proof

• Place

• Promotion

• Product

• Price

Multiple Select

What are the 4Cs of marketing mix? (pick 4 among the options)

• Communication

• Cost

• Catalyst

• Consumer

• Covenience

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What is the main difference between Primary Market Research and Secondary Market Research according to the VIDEO you just watched?

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Give ONE example of  Primary Market Research according to the VIDEO you just watched.

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Give me ONE disadvantage of  Primary Market Research according to the VIDEO you just watched.

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What is another name for primary market research we just discussed awhileago?

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Identify the 5 methodologies of Primary Market Research we just have a minute ago.

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What method of primary research that make use of through sampling of product and baseds on the sample's reactions the product will either be launched full scale or scrapped?

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What method of primary research that make use of a list of questions that gets the views and opinions of respondents through asking questions?

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What method of primary research that make use of through observing the buyer's behaviour?

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What method of primary research that make use of the group of target market demographic respondents that which are chosen to take part in product trial?

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What method of primary research that make use of face-to-face or telephone which will measure reactions to new tastes or ideas that the business is having?

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What method of primary research that make use of face-to-face or telephone which will measure reactions to new tastes or ideas that the business is having?

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What particularly you've learned about Primary Market Research today?

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What is another name for secondary market research we just discussed awhileago?

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What are the secondary market research methods that we've just witnessed awhileago?

Fill in the Blank

Amongst all of the secondary research method this is an ideal way to research competitor websites, articles, publication and annual accounts etc to quickly gain industry information?

Fill in the Blank

Enumerate the two (2) government offices or agencies that are mentioned in our slides are good sources of information. (write in small letters completely, not mixed nor capitalized; then, enter new line to separate)

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An example to this secondary research method is Mintel trends and report what kind of secondary research method is this that utilizes reports to create ad campaigns and get first mover advantage in a marketplace? (small letters)

Fill in the Blank

what secondary research method that caters to a very specialist market because it is a combination of scholarly and popular sources that professionals in specific industries use to inform and share information about that industry with one another and those interested in the industry example to this are trade journals? (small letters)

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What particularly you've learned about Secondary Market Research today?

Multiple Choice

It is the collection of common data that consists of a set of related records, what is this?

• Database

• Data

• Fields

• File

Fill in the Blank

_______ is a systematic collection of data that is in support to an electronic storage and manipulation of data? (small letters, not mixed nor capitalized).

Fill in the Blank

_______ can be facts related to any objects in consideration, what is this? (small letters, not mixed nor capitalized).

Multiple Choice

Are headings that contain the information on each record e.g. name, address, age, etc., what is this?

• Record

• Fields

• Data

• File

Multiple Choice

Are headings that contain the information on each record e.g. name, address, age, etc., what is this?

• Record

• Fields

• Data

• File

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Name all four (4) characteristics or the facilities that should be seen in a good database. (small letters; separate it with a new line by pressing together <shift> in your keyboard and <enter> key).

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Give me one advantage of Database and explain it in 3 or more quality sentences?

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Give me one disadvantage of Database and explain it in 3 or more quality sentences?

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What particularly you've learned about Databases today?

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Differentiate qualitative and quantitative research.

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What particularly you've learned about Quantitative and Qualitative Research today?

​Until then...

​Good day to each one!